Cornerstone Wealth Management LLC Grows Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Cornerstone Wealth Management LLC raised its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 40.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,796 shares of the company’s stock after buying an additional 514 shares during the period. Cornerstone Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. boosted its stake in shares of Royal Caribbean Cruises by 1.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 12,428 shares of the company’s stock worth $2,204,000 after acquiring an additional 133 shares during the last quarter. Creative Planning lifted its stake in shares of Royal Caribbean Cruises by 12.8% during the 3rd quarter. Creative Planning now owns 38,119 shares of the company’s stock valued at $6,761,000 after buying an additional 4,311 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Royal Caribbean Cruises by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after buying an additional 7,298 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Royal Caribbean Cruises by 6.9% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,364 shares of the company’s stock valued at $2,016,000 after acquiring an additional 735 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its stake in Royal Caribbean Cruises by 7.3% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 8,552 shares of the company’s stock valued at $1,517,000 after purchasing an additional 581 shares during the period. 87.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RCL shares. Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Citigroup increased their price target on Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Tigress Financial increased their price target on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.06.

Insider Activity at Royal Caribbean Cruises

In related news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares in the company, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Naftali Holtz acquired 5,350 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Down 0.6 %

Royal Caribbean Cruises stock opened at $199.94 on Friday. The business’s 50-day simple moving average is $171.83 and its two-hundred day simple moving average is $156.65. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The company has a market cap of $51.45 billion, a PE ratio of 21.80, a PEG ratio of 0.57 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a fifty-two week low of $78.35 and a fifty-two week high of $204.37.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.6 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 17.45%.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.